UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2025 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number: 001-11954 (Vornado Realty Trust) Commission File Number: 001-34482 (Vornado Realty L.P.) Vornado Realty Trust Vornado Realty L.P. ...

"Tonight, we honor those leaders in our industry that are paving the way to a more affordable, resilient and sustainable future.," said Philip Skalaski, the co-President of NYECC. Post this The 2025 ENYA honorees are: ENYA Lifetime Achievement Award: Diana SweeneyDiana has just concluded her twelve-year tenure as Executive Director. Throughout her service, Dianna demonstrated exemplary leadership, effectively navigating the organization through substantial changes within New York's energy and regulatory en ...

Core Insights - Vornado Realty Trust is a leading real estate investment trust (REIT) focusing on premium office assets, particularly in New York, and will release its Q3 2025 earnings on November 3 [1] Financial Performance - Analysts project Vornado's earnings per share (EPS) to be $0.55, with expected revenue of approximately $435.2 million, driven by strong leasing demand [2][6] - In the last reported quarter, Vornado's adjusted funds from operations (FFO) per share was $0.56, exceeding the Zacks Consensus Estimate of $0.53, indicating consistent cash flow generation [3] - The occupancy rate of Vornado's New York portfolio is anticipated to increase to 85.7%, up from 85.2% the previous year, reflecting a positive trend in leasing activity [2][6] Market Valuation - Vornado's price-to-earnings (P/E) ratio is approximately 8.33, and its price-to-sales ratio is about 4.04, providing insights into how the market values its earnings and revenue [4][6] - The enterprise value to sales ratio is around 7.70, and the enterprise value to operating cash flow ratio is approximately 44.57, further illustrating the company's market valuation metrics [4] Financial Health - The company's debt-to-equity ratio is approximately 1.28, indicating its level of financial leverage, while the current ratio of about 2.52 suggests a strong ability to cover short-term liabilities [5] - Vornado's earnings yield is about 12.01%, presenting an attractive return on investment perspective for potential investors [5]

Core Insights - Vornado Realty Trust (VNO) is expected to report third-quarter 2025 results on November 3, with anticipated year-over-year increases in revenues and funds from operations (FFO) per share [1][10] Company Performance - In the last reported quarter, Vornado's FFO per share was 56 cents, exceeding the Zacks Consensus Estimate of 53 cents, with growth in same-store net operating income (NOI) and strong leasing activity [2][3] - Over the past four quarters, Vornado's FFO per share has consistently beaten estimates, with an average surprise of 12.1% [3] Market Environment - The U.S. office market is experiencing solid demand for high-quality spaces, with companies expanding their footprints after previous cutbacks [3] - Despite negative net absorption in the broader office market, gross leasing activity is on the rise, with 46 out of 92 tracked U.S. markets showing positive absorption [4] - Demand for Class A assets remains high, driven by companies focusing on employee retention through enhanced experiences [4] Supply Dynamics - The supply pressures are easing due to reduced new construction activity, with the under-construction pipeline at 22.5 million square feet, the lowest in the 21st century, representing 0.4% of total office inventory [6] - New deliveries in the third quarter were 7.1 million square feet, 30% lower than the average since 2020 [6] Future Projections - Vornado's New York portfolio occupancy is projected to rise to 85.7%, up from 85.2% a year earlier, with revenues expected to reach $362.9 million, indicating flat growth year-over-year [10][11] - The Zacks Consensus Estimate for quarterly revenues is pegged at $443.3 million, also implying flat growth year-over-year [11] - The consensus for FFO per share remains at 55 cents, reflecting a 5.8% increase from the prior-year period [12] Strategic Considerations - Vornado's premium portfolio is likely to have benefited from healthy demand, supporting leasing activity [7] - The company’s focus on opportunistic developments and divestitures, along with a well-diversified tenant base, has contributed to stable revenue generation [8][7]

Core Points - Alexander's, Inc. will file its quarterly report on Form 10-Q for the quarter ended September 30, 2025, with the U.S. Securities and Exchange Commission and will issue its third quarter earnings release on November 3, 2025, before the New York Stock Exchange opens [1] - Vornado Realty Trust, which manages Alexander's operations, will host a quarterly earnings conference call and audio webcast on November 4, 2025, at 10:00 a.m. Eastern Time [2] - The conference call can be accessed via a domestic number (888-317-6003) or an international number (412-317-6061) with a passcode of 8601197, and a live webcast will be available on Vornado's website [3] Company Overview - Alexander's, Inc. is a real estate investment trust that owns five properties in New York City [3]

Group 1 - Vornado Realty Trust (NYSE:VNO) is considered one of the best cheap rising stocks to invest in currently, with Truist Securities maintaining a Hold rating and increasing the price target from $38 to $40 due to improving leasing trends and reduced interest rates [1][2] - Truist Securities anticipates an increase in Vornado's portfolio occupancy driven by solid leasing activity, manageable near-term lease expirations, and strong rent spreads [2] - Despite a decline in cash flow and negative funds available for distribution (FAD) reported in Q2 2025, there is an expectation of future earnings growth for Vornado [2]

Core Points - Donald Trump has filed a $15 billion defamation lawsuit against The New York Times, Penguin Random House, and several writers, claiming that their reporting has harmed his business and celebrity image [2] - A federal judge dismissed Trump's lawsuit, stating that the complaint was excessively lengthy and self-serving, and provided Trump with 28 days to refile a more concise version [3] - Trump's claims about the value of his brand and properties are often exaggerated, with his legal team asserting a worth of over $100 billion, while Forbes estimates his net worth at $7.3 billion [4] Company and Brand Valuation - Trump's brand is valued by Forbes at $500 million, with additional valuations including a $2 billion stake in Truth Social and $1.047 billion from cryptocurrencies, totaling over $3 billion [4] - Trump's Mar-a-Lago estate is claimed to be worth $1.8 billion by Trump, but Forbes estimates its value at about $500 million based on property tax assessments and market evaluations [6] - Trump lists several properties in his lawsuit that he does not own or operate, including 1290 Avenue of the Americas, where he holds only a passive 30% stake [7][8] Misrepresentation of Assets - Trump has inflated his real estate portfolio by listing the same property multiple times and claiming ownership of buildings that have removed his brand [9][10] - Properties like Trump World Tower and the Grand Hyatt Hotel are cited as part of his portfolio, but Trump's actual ownership stakes are minimal or non-existent [10]

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market strategies and confidence [1] - The Zacks Style Scores are designed to help investors identify stocks with the potential to outperform the market in the short term [2] Zacks Style Scores Overview - Stocks are rated from A to F based on value, growth, and momentum characteristics, with A being the highest score [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5][6] Value Score - Focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - Concentrates on a company's financial health and future growth potential, analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - Aims to capitalize on price trends, utilizing metrics like one-week price changes and monthly earnings estimate changes [5] VGM Score - Combines all three Style Scores to provide a comprehensive assessment of stocks based on value, growth, and momentum [6] Zacks Rank Integration - The Zacks Rank leverages earnings estimate revisions to guide investors in building successful portfolios, with 1 (Strong Buy) stocks historically yielding an average annual return of +23.64% since 1988 [7] - Investors are encouraged to select stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B for optimal success [9] Company Spotlight: Vornado Realty Trust - Vornado Realty Trust is a REIT focused on commercial real estate, primarily in New York City, Chicago, and San Francisco [11] - Currently rated 3 (Hold) by Zacks, Vornado has a VGM Score of B and a Momentum Style Score of B, with shares increasing by 15.9% in the past four weeks [12] - The company has seen positive earnings estimate revisions, with the Zacks Consensus Estimate for fiscal 2025 rising by $0.04 to $2.29 per share [12] - Vornado's strong Zacks Rank and favorable Style Scores make it a noteworthy consideration for investors [13]

Core Insights - Vornado Realty Trust (VNO) shares have increased by 11% over the past month, significantly outperforming the industry growth of 1.3% [1] - The company's premium assets in select high-rent, high-barrier-to-entry markets are expected to thrive due to strong demand, supported by portfolio-repositioning efforts and a robust balance sheet [1][4] - Vornado completed the acquisition of the 623 Fifth Avenue office condominium for $218 million, adding 382,500 rentable square feet to its portfolio [1][6] Financial Performance - The Zacks Consensus Estimate for Vornado's 2025 funds from operations (FFO) per share has been revised upward by one cent to $2.27 [2] - In Q2 2025, Vornado leased a total of 1.7 million square feet, with 1.5 million square feet in New York at starting rents of $101.44, reflecting strong market demand [5][6] Strategic Initiatives - Vornado is focusing on opportunistic developments and divestitures, which provide capital for reinvestment in growth opportunities [6][8] - The company sold a 173,000-square-foot Class A office building for $205 million, indicating effective portfolio management [6][7] Market Position - Vornado's strategic focus on high-quality assets in the New York City office market, along with a diversified tenant base, is expected to drive steady cash flows and long-term growth [4] - The growth of office-using jobs and expansion in sectors like technology and finance are anticipated to enhance rental revenues in the coming quarters [5] Financial Strength - As of June 30, 2025, Vornado had $2.92 billion in liquidity, including $1.36 billion in cash and cash equivalents, and $1.56 billion available under its revolving credit facilities, positioning the company well for future investments [8]

Core Insights - Fresco by Scotto is celebrating a 10-year lease renewal with its landlord, Jack Resnick & Sons, which signifies a strong partnership and stability for the restaurant in a competitive market [1][2]. Company Overview - Fresco by Scotto, co-owned by Rosanna Scotto, has been a staple in the East Midtown restaurant scene since its opening in 1993, known for its Italian cuisine and appealing dining atmosphere [2][4]. - The restaurant's longevity is attributed to its family-run nature and the commitment of the Scotto family, which includes Rosanna, her mother Marion, and her children LJ and Jenna Ruggiero [2][5]. Industry Context - The restaurant is located near the site of a significant development project, 350 Park Ave., which will involve the construction of a 1,600-foot skyscraper by Vornado Realty Trust and other partners, potentially impacting the surrounding area [3]. - The developers have expressed a commitment to being sensitive to the needs of Fresco during the construction process, indicating a collaborative approach to urban development [5].